Tokyo 2020 Organizing Committee concerned about sharing the additional costs due to Olympics postponement

After the postponement of the Tokyo Olympics this year, the Tokyo 2020 Olympic Organizing Committee also promised of conducting the games by the next summer with no further delay than that. 

However, seems like the Tokyo Olympic Games task force now has the immediate task of scheduling the Summer Games and look for sponsors to curb the losses due to the postponement of the event. 

Tokyo 2020 President Yoshiro Mori has told all the International Federations that it is going to be a major challenge in deciding who will bear the cost of this postponement. Yoshiro Maori has also written to all the 33 Federations on this issue and the major costs that will be needed to conduct the events in the next year. 

“The extra cost that will arise from this postponement is inevitable,” Mori writes.  “Deciding who will bear these costs and how it will be done will be a major challenge.” Mori Said. 

As per the earlier reports, the International Olympic Committee (IOC) is looking for the same window slot between July-August the next year so that no more delays take place.  Mori also cited that everyone who is involved in rearranging the Games next year, “carry out our mission to deliver the Olympic and Paralympic Games Tokyo 2020 next year, demonstrating that human beings have triumphed over the coronavirus”. Mori added. 

As per the reports, the total loss that Japan is going to incur is estimated to be around $6 million as the Toyo 2020 Chief Executive Toshirō Mutō described the loss as “massive” as he further stated that sharing the additional financial load is going to be among the “thousands” of challenges for the task force to address the complex issues that will arise due to the postponement of the mega event.